Metamaterial is an engineered material designed to attain properties that are not found in nature. Metamaterials are made of multiple composite materials such as metals, plastics, etc. fashioned in repeating patterns. These artificially structured composite exhibits exotic and unique properties such as electromagnetic properties, compared with traditional composites found in nature. Superior electromechanical properties makes it idle material for various applications in telecommunication industry. Metamaterial also find a significant application in several end-use verticals such as, medical, automotive, consumer electronics, optics, aerospace and energy & power. Different types of materials are used for different applications depending upon the properties required by the end use verticals.

Metamaterial show exceptional physical properties such as, negative permittivity & permeability and negative index of refraction have attracted significant research and development activities. The significance of metamaterial is that it can affect waves of electromagnetic radiation or sound and allowing engineers to manipulate wave propagation by modifying unit cells in different ways. With the advancement of technologies and increasing application of consumable electronics and growth of telecommunication industry the metamaterial market is expected to be a lucrative market having a significant growth over the forecast period.

Metamaterial finds a wide range of usage in aerospace, automotive and telecommunication industry, with the progressive growth of this industries the global metamaterial market is expected to witness growth at a rapid pace. Rise in wireless communication services attributing in the increasing demand of antenna, an integral component of smartphone and satellite communication equipment, is expected to be one of the key factor for the growth of metamaterial market. Owing to superior electromagnetic properties the metamaterial finds a potential usage in navigation, absorbers, sensors and spectroscopy, such applications are expected to drive the growth of metamaterial market at a rapid pace. Moreover, increase in demand for clean energy sources such a solar, wind and tidal energy is also expected to drive the demand of metamaterial.

In addition, metamaterial is also used in medical industries for various purpose such sensors and imaging devices, also research and development is going on for development of innovative products to help doctors to serve and treat the patients in an effective and easy manner. Several applications of metamaterial applications are still in research and development stage like, clocking devices, seismic protection, etc. Though there is still a long way from the commercialization of these products, limitation of technologies and knowledge is expected to be one of the constraining factor for the growth of metamaterial market.

Metamaterial Market: Segmentation

On the basis of material type the metamaterial market can be segmented as:

North America is expected to dominate the metamaterial market with high growth rate over the forecast period driven by the increase in demand from aerospace and defense industry. Asia Pacific is expected to have high demand of metamaterial attributed by growing electronics and telecommunication industry driven by increasing investment by foreign investors and improving lifestyle in the region. Moreover, increasing investment for development and strengthening of Navy by various nation such as, India and China, is expected to boost the metamaterial market in Asia Pacific region. Europe is expected to have steady growth of metamaterial market driven by growing power sector and automotive industry with increasing demand of advanced materials.

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